From knowing where to find information to studying up on entrance fees and financial contracts, Forbes offers several tips to help consumers navigate the search process when shopping around for continuing care retirement communities (CCRCs).
With nearly 2,000 CCRCs nationwide, according to data from the National Investment Center for the Seniors Housing and Care Industry cited by Forbes, searching for a CCRC is a “big decision” for older adults looking to sell their homes and move into a community where they can cycle through various care stages.
The article directs readers who are in the market for a non-profit CCRC to visit LeadingAge’s webpage to find a list of communities nationwide. To find for-profit CCRCs, Forbes suggests visiting Retirement Living Information Center, where consumers can access a comprehensive list for a fee of about $25.
Once a prospective CCRC is found, Forbes then encourages readers to check out the community’s license for any “major deficiencies” like chronic low staffing or high rates of wandering among residents with memory impairments.
The next step for CCRC shoppers is to study up on the financial contract options and other fine print materials—especially those related to entrance fees, says the article, so that they understand what part of the upfront fee is refundable and the terms or conditions that may apply.
Other considerations offered by Forbes include scheduling an overnight visit in a prospective community, determining if there are enough skilled nursing beds available, and hearing what resident council groups have to say about their experiences living at the CCRC.
Read more at Forbes.
Written by Jason Oliva